There May Be Underlying Issues With The Quality Of Guizhou Guihang Automotive ComponentsLtd's (SHSE:600523) Earnings
There May Be Underlying Issues With The Quality Of Guizhou Guihang Automotive ComponentsLtd's (SHSE:600523) Earnings
Guizhou Guihang Automotive Components Co.,Ltd (SHSE:600523) just reported some strong earnings, and the market reacted accordingly with a healthy uplift in the share price. We did some analysis and think that investors are missing some details hidden beneath the profit numbers.
貴州貴航汽車零部件有限公司, Ltd(SHSE: 600523)剛剛公佈了一些強勁的收益,市場做出了相應的反應,股價出現了健康的上漲。我們做了一些分析,認爲投資者遺漏了一些隱藏在利潤數字之下的細節。
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The Impact Of Unusual Items On Profit
不尋常物品對利潤的影響
Importantly, our data indicates that Guizhou Guihang Automotive ComponentsLtd's profit received a boost of CN¥18m in unusual items, over the last year. While it's always nice to have higher profit, a large contribution from unusual items sometimes dampens our enthusiasm. When we crunched the numbers on thousands of publicly listed companies, we found that a boost from unusual items in a given year is often not repeated the next year. And, after all, that's exactly what the accounting terminology implies. If Guizhou Guihang Automotive ComponentsLtd doesn't see that contribution repeat, then all else being equal we'd expect its profit to drop over the current year.
重要的是,我們的數據表明,貴州貴航汽車零部件有限公司的不尋常項目利潤比去年增加了1800萬元人民幣。雖然獲得更高的利潤總是件好事,但來自不尋常物品的巨額捐款有時會抑制我們的熱情。當我們計算數千家上市公司的數字時,我們發現,特定年份中不尋常的項目所帶來的提振通常不會在第二年重演。而且,畢竟,這正是會計術語的含義。如果貴州貴航汽車零部件有限公司認爲這一貢獻不會重演,那麼在其他條件相同的情況下,我們預計其本年度的利潤將下降。
Note: we always recommend investors check balance sheet strength. Click here to be taken to our balance sheet analysis of Guizhou Guihang Automotive ComponentsLtd.
注意:我們始終建議投資者檢查資產負債表的實力。點擊此處查看我們對貴州貴航汽車零部件有限公司的資產負債表分析
Our Take On Guizhou Guihang Automotive ComponentsLtd's Profit Performance
我們對貴州貴航汽車零部件有限公司盈利表現的看法
Arguably, Guizhou Guihang Automotive ComponentsLtd's statutory earnings have been distorted by unusual items boosting profit. Because of this, we think that it may be that Guizhou Guihang Automotive ComponentsLtd's statutory profits are better than its underlying earnings power. But at least holders can take some solace from the 11% per annum growth in EPS for the last three. Of course, we've only just scratched the surface when it comes to analysing its earnings; one could also consider margins, forecast growth, and return on investment, among other factors. In light of this, if you'd like to do more analysis on the company, it's vital to be informed of the risks involved. While conducting our analysis, we found that Guizhou Guihang Automotive ComponentsLtd has 1 warning sign and it would be unwise to ignore it.
可以說,貴州貴航汽車零部件有限公司的法定收益被提高利潤的不尋常項目所扭曲。因此,我們認爲可能是貴州貴航汽車零部件有限公司的法定利潤好於其基礎盈利能力。但是,至少持有人可以從過去三年的每股收益每年增長11%中得到一些安慰。當然,我們只是在分析其收益時才浮出水面;人們還可以考慮利潤率、預測增長和投資回報率等因素。有鑑於此,如果你想對公司進行更多分析,了解所涉及的風險至關重要。在進行分析時,我們發現貴州貴航汽車零部件有限公司有1個警告標誌,忽視它是不明智的。
Today we've zoomed in on a single data point to better understand the nature of Guizhou Guihang Automotive ComponentsLtd's profit. But there are plenty of other ways to inform your opinion of a company. For example, many people consider a high return on equity as an indication of favorable business economics, while others like to 'follow the money' and search out stocks that insiders are buying. While it might take a little research on your behalf, you may find this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying to be useful.
今天,我們放大了單一數據點,以更好地了解貴州貴航汽車零部件有限公司利潤的性質。但是,還有很多其他方法可以讓你對公司的看法。例如,許多人認爲高股本回報率是有利的商業經濟的標誌,而另一些人則喜歡 “關注資金”,尋找內部人士正在買入的股票。雖然可能需要你進行一些研究,但你可能會發現這份免費收集的擁有高股本回報率的公司,或者這份內部人士正在購買的股票清單很有用。
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。